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This is the general rule, but not for ones the size of OpenAI. There’s always a secondary market for prominent enough companies.
by ceejayoz 11mo ago
This is the general rule, but not for ones the size of OpenAI. There’s always a secondary market for prominent enough companies.
- soared 11mo agoDont all private companies require approval for secondary sales, which I assume are not ever approved?
- no_wizard 11mo agoTypically. I’d be shocked if OpenAI let employees sell their options like this without requiring approval
- htrp 11mo agoThey don't but you effectively do it under the table
- raw_anon_1111 11mo agoDo they sell at full value?
- judahmeek 11mo agoHow do you define value without an IPO?
- matt-attack 11mo agoWhatever they sell them for is the value.
- cik 11mo agoThey do, but you sell forward contracts instead. This is perfectly legal, and the approach I've seen. There are a few companies, and even funds that will engage in this, in an effort to attain future upside.
- throw-12-16 11mo agoIts pretty common, Ive personally done this.